RE: Eliot Wave28 Jun 2020 21:13
@pantarei, agreed that the actual wave 1 started on 22nd. From 14th to 21st was a marco wave. If you shorten the timescale of the points you can see it.
Been thinking about the placing and how that affects the wave. From a Elliott Wave point of view it's an artificial event not created by investor sentiment or herd behaviour. Based on 20% dilution and 20% drop in price it's just a straight change down.
Based on this we should take the end of wave A down by 20% to 52.8. That is the theroetical point where we are back on wave 1.
Anyway see how we go tomorrow. I've carried out the same on SOU as I was asked to and have a theory, again we'll see how that goes.